The cryptocurrency market continues to demonstrate significant volatility amid geopolitical tension, particularly regarding events between Israel and Iran. This article reviews the declines of major assets and analyzes potential future scenarios.
Current Volatility in the Cryptocurrency Market
The cryptocurrency market is experiencing high bearish volatility, particularly with Ethereum (ETH) dropping over 7% in the past week and trading around $2,530. Memecoins like Pepe (PEPE) are also under pressure, logging a 14% weekly decline and nearly 17% drop over the month.
Fractal Predicts Bullish Movement for PEPE
A comparative chart presented by Twitter user Max highlights a significant similarity between PEPE’s current structure and the past behavior of Coinbase Global Inc. (COIN) stock. On the COIN chart, a clear falling wedge formed, followed by a bullish breakout that triggered a major upside rally. PEPE now appears to be following a similar pattern, consolidating within a defined falling wedge and testing key horizontal support levels.
Future of PEPE: Projections and Risks
If history repeats itself, PEPE could be gearing up for a significant rally. A confirmed breakout from the wedge, ideally supported by increased trading volume, could propel the token toward the $0.000018 level, marking a potential 70% move from its current price. However, it is essential to note that the broader macroeconomic environment and ongoing geopolitical risks may still impact momentum.
The cryptocurrency market faces serious challenges, yet potential signals for bullish movements remain relevant. Investors are advised to exercise caution in the face of heightened volatility and monitor key support and resistance levels.
